Cline Mining Corporation T.CMK

Bates is gone

[challenger426]

Cline announces resignation of President, CEO and director and appointment of new director

Friday, May 24, 2013

Cline announces resignation of President, CEO and director and appointment of new director

08:20 EDT Friday, May 24, 2013

TORONTO, May 24, 2013 /CNW/ -Cline Mining Corporation ("Cline" or the "Company") (TSX: CMK) announced today that Mr. Kenneth Bates has resigned as President, CEO and director of the Company and its subsidiary, effective immediately. Mr. Bates has served as President, CEO and director of the Company since foundation.

The Company's Executive Chairman, Mr. Mark Haywood stated "We wish to thank and express our gratitude to Ken for his dedicated service and numerous contributions made to the Company under often challenging conditions. We wish him well in his future endeavours."

Additionally, the Company announced that Mr. V. James Sardo has been appointed a director of the Company. Mr. Sardo is a corporate director with significant CEO and corporate governance experience. He is currently a director and Chairman of the board of Capstone Infrastructure Corporation, a director of New Flyer Industries and a director of Currency Exchange International Corporation. He earned his Bachelor of Arts degree from The University of Western Ontario and a Master of Business Administration degree at McMaster University. Mr. Sardo is a member of the Institute of Corporate Directors and holds the ICD.D designation.

About Cline

Cline is a Canadian mining company focused on the development of its 100% owned New Elk coking coal mine located in Colorado, U.S.A. The Company also has interests in metallurgical steel making coals in Canada, an iron ore project in Madagascar, and the Cline Lake gold property in northern Ontario, Canada. With a head office in Toronto and site offices at the mine, Cline is led by a management and operations team with over 100 years of exploration and mining experience.

For further details on Cline, please refer to Cline's web site (www.clinemining.com) and Cline's Canadian regulatory filings on SEDAR at www.sedar.com

[shane117]

About TIIIIIIMMMMME!!!!!!!!!!!!!!!!1

[robd27]

That news alone should have caused a 1-2 cent increase in share price - NOT !

[blade86ca]

Wow , never thought i read that kinda NR, Actually feel less afraid now of spending some money to exercise those warrants in future

[blade86ca]

Agreed volume is ultra dry though at the moment suprisingly at the moment , time will tell what real changes new management can do

[straightbull]

It is too late. Too much damage has been done. Market for coal is cut-throat, and Cline cannot compete in this environment. No one will invest in this company.

[bond46]

The bull for met call and the cyclicals is yet to run. Expect a rebound on the cyclicals after the Labor Day and after the elections in Germany. Europe will embark on a spending spree after the elections in Germany with the focus on infrastructure projects throughout Europe, especially the South. This hint also came from Soible the German Finance Minister the other day. And my info from

[The_Shadow]

So does anyone know how much Bates is going to strip from shareholders one last time with some sort of obscene Golden Handshake? As a reward for all his years of hard work on behalf of us all? LOL!